Accounting questions answeer 6. The account which increasesequity is known as?A. Debit AccountB. Credit AccountC. RevenueD. Treasury Stock

The correct answer is:C. RevenueExplanation:Equity increases through revenues and owner investments.…

Answered: 6. The account which increases equity…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 14DQ

See similar textbooks

Similar questions

Which of the following accounts is increased by a debit?A. Common StockB. Accounts PayableC. SuppliesD. Service Revenue
We credit Dividends Payable on: a. Payment date. b. Record date.c. Declaration date. d. Never.
Expressing accounts receivable as a percentage of total assets is an example ofa. ratio analysis.b. vertical analysis.c. horizontal analysis.d. trend analysis.
For each ofthe following accounts, identify whether that item is an asset, liability, or equity account.a. Bonds payableb. Equipmentc. Accounts payabled. Salaries payablee. Common stockf. Retained earningsg. Cashh. Accounts receivablei. Sales revenuej. Inventory
Which of the following is not an asset account?a. Cashb. Landc. Equipmentd. Common Stock
Net Income is calculated as follows: NI = NII- Burden – PL - + SG-T Where, bank burden (non-interest expense < non-interest Income). Select one: O True O False Next p
Indicate by a (+), (), or (0) whether each of the following events would most likely cause accounts receivable (AR), sales, and profits to increase, decrease, or be affected in an indeterminate manner:
Which of the following accounts normally has a debitbalance?a. Unearned Revenueb. Rent Expensec. Retained Earningsd. Sales Revenue
The account which increases equity is known as? A. Debit Account B. Credit Account C. Revenue D. Treasury Stock
Finance Mcq
A. 3. What is the line item that appears on a statement of financial position? D. Cost of sales. Dividends paid. Current portion of long-term debt. Increase in cash and equivalents.
A common measure of liquidity is a.the asset turnover ratio b.the accounts receivable turnover c.the profit margin d.dividends per share of common stock

SEE MORE QUESTIONS

Recommended textbooks for you

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

6. The account which increases equity is known as? A. Debit Account B. Credit Account C. Revenue D. Treasury Stock